If you thought you missed your chance to scam your friends and neighbors with a sub-prime mortgage loan – you know a loan you can’t afford for that bigger house you always wanted – your wrong.

Live the champagne life on a beer budget and let your neighbors pick up the tab.

Visit any of the cites below and get your sub-prime loan now ….. you still have time to default and get your the mortgage “crammed” down and “modified” before summer. Use the extra cash to buy a new car and boat ……….

100% Financing Loans

More and more Americans are choosing to pay for their home with a 100% financing mortgage, also known as a no down payment or a zero-down mortgage loan. This type of home mortgage frees borrowers from the worry and burden of having to gather and set aside funds for closing costs and a down payment in order to purchase a home.

100% financing, or complete financing of the property via a first mortgage exclusively

Stocks and other investments need not be liquidated to purchase the property

Private mortgage insurance is not required (unlike a conventional loan)

The greater the amount financed, the higher the tax deduction for the loan interest paid

The opportunity to use and/or start earning equity in the new home, instead of having it tied up

The ability to have their money earn interest in a money market fund or savings account

Diminution of their financial risk and risk-shifting to the lender[The lender shifts the burden to the taxpayer via a bailout]

Qualify for a bigger mortgage

Borrowers must decide whether to apply for an adjustable rate mortgage (ARM) or a fixed rate mortgage. Eligibility requirements for the former are easier to satisfy, and an ARM offers lower mortgage rates.[McAuley’s World – Wow, you can get an ARM and blame the lender later]

Low Cost No Money Down Home Loan Solutions

AAXA Discount Mortgage is pleased to offer fast, flexible no money down mortgage financing. The flexibility that these programs provide does not have to mean high rates and fees…. Our lenders offer highly competitive zero down home loans to qualified borrowers even if their credit is less than perfect.

Closing costs can be financed – $250,000 to $962,000 – Credit scores as low as 580 (580 scores credit limit is $500K) – No income Verification – No Asset Verification [McAuley’s World – Get Your NINJA Loan here – No Income, No Asset, No Job, No problem] http://www.loanshoppers.net/zero_down.htm

A zero down loan is good when you don’t have enough cash to pay your closing costs and make a down payment on the purchase of your home. It is also used to avoid paying Private Mortgage Insurance (PMI) costs. PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full.

Zero Down

Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

Question
Can you please tell me more about the zero down option on the mortgage loan program? which types are they, what kind of credit score does it allow for?

Answer
There is a lot of information regarding “zero down” mortgage programs. There are some great programs backed by Fannie Mae and Freddie Mac (these are the 2 government backed giants that control the industry) with great interest rates and credit requirements that don’t have to be sterling.

I’ll give you an example: a borrower could have a 650 credit score and qualify for a “zero down” program backed by Fannie and Freddie. The rate would be approximately 6.5%.

However, here’s another example: a borrower could have a credit score of 580 and no longer qualify for Fannie and Freddie but would be able to obtain 100% financing with well respected, publicly traded (NYSE or NASDAQ) companies. But the rate would be higher. [McAuley’s World – The rate is only higher until you receive your “mortgage modification” when the rate is written down to 2.5% and have your “principal crammed down” too ….. let your neighbors pay for the reductions through higher taxes – you can’t beat this deal with a stick]

Borrower may want to finance as much as possible for tax deduction purposes.

Debt ratios of 45 or less [McAuley’s World – Don’t worry – after default or modification – the Governemnt will write you down to a 31% debt ratio while your neigbors pay the extra 14% for you]

Zero Down Home LoansHome Purchase Loans – 100% Home Financing – No Money Down

Zero Down Home Loans are offered to consumers with good and bad credit for 100% financing. We practice fair lending with 100% financing for conventional, home purchase loans, sub-prime, pick a payment loans, jumbo mortgages, negative amortization and interest only loans.

“Many people in California are finding the best way to get a low monthly payment is with the 1.25% negative amortization loans that allow borrowers to defer the interest until the end of the year. These payment option loans offer borrowers a payment that is even lower than the interest only payment. The negative amortization option is only available until the mortgage balance reached a 115% or 125% of the original mortgage balance depending upon the lender.” [McAuley’s World – This loan will qualify you to move to the front of the mortgage bailout line – a zero down loan – to people with bad credit – with less than an “interest only payment due” until you default – What a mortgage! With this mortgage a Municipal Bus Driver making $35K a year can mortgage a Million Dollar Home at Taxpayer Expense – What a Country we live in! Free Million Dollar Homes Paid For By Your Neighbors Taxes!]

BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines – “According to Citibank executive, Jim Markham, “Having the ability to use the AVM model is a Win-Win scenario for mortgage brokers and homeowners across the country. Mortgage brokers can increase their second mortgage volumes and borrowing consumers benefit from reduced costs and quicker loan processing cycles.” [Why would Citi care as long as Taxpayers keep “recapitalizing” the mortgage losses through TARP. “Appraisals” Are No Longer Needed For A “Mortgage Modification” at taxpayer expense – borrow as much as you want – you won’t be paying it back anyway].http://www.bdnationwidemortgage.com/zero-down-home-loan.html , http://www.prweb.com/releases/mortgage/loans/prweb470912.htm

Hurry, it’s not to late to get in on the scam – purchase a larger home or refinance your current home now. Default before Memorial Day and get your “Mortgage Modification” and “Cram Down” by Labor Day weekend.

Why settle for a house you can afford when your neighbors will pay for your upgrade?

Don’t settle for second best – go right to the top – http://www.acornhousing.org/TEXT/mortgage1.php – “Flexible credit guidelines and income requirements including the use of non-traditional income” – (Yes, welfare payments and food stamps can be used as income qualifiers.) ” We are very pleased with the level of commitment that CitiMortgage, First American and Fannie Mae are contributing to this effort”, said Alton Bennett, President of ACORN Housing Corporation. Since its inception, AHC has provided free services to 250,000 households across the country, more than 80,000 of which have become homeowners, generating more than $10 billion in mortgages.